Hyderabad-based Leanwatts plans to use the financing to expand manufacturing capacity, strengthen R&D and testing infrastructure, and develop additional power-electronics platforms for electric mobility.
Leanwatts, a Hyderabad-based power-electronics and electric-vehicle charging company, has raised approximately $2 million in seed funding, according to Autocar Professional.
The publication reported that the financing was completed across two tranches and led by Trivest Partners, with angel investors Abraham George and Alok Rungta also participating. Axios separately reported a $2 million seed round led by Trivest Partners. Bipsiq did not locate a first-party announcement from Leanwatts or Trivest Partners confirming the transaction terms.
According to Autocar Professional, Leanwatts plans to use the capital to increase manufacturing capacity, strengthen its research, development and product-testing infrastructure, and accelerate work on additional power-electronics platforms. These are planned uses of the financing rather than completed expansion activities.
Leanwatts develops power-conversion and charging hardware for electric-mobility applications. Its official product portfolio includes Quark portable chargers, Boson SiC onboard charging systems and Photon rectifiers. The Boson range includes variants with output power of up to 6.6kW, while other product lines target lower-power light electric-vehicle applications.
The company’s current website identifies Pradeep Chowdary and Abhilash Reddy D as founders and directors, and Sujith Kumar as a co-founder and director. Leanwatts’ LinkedIn page lists the company as founded in 2022, while corporate records show Leanwatts India Private Limited was incorporated on October 4, 2022. Sujith Kumar has separately stated that he joined the company as a co-founder after Chowdary and Reddy had already established the business.
The company is headquartered in Hyderabad and describes its business as developing and manufacturing EV charging and power-electronics systems for vehicle manufacturers.
